Armstrong World Industries (NYSE:AWI) Hits New 52-Week High – Should You Buy?

Armstrong World Industries, Inc. (NYSE:AWI) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $144.01 and last traded at $143.58, with a volume of 3201 shares trading hands. The stock had previously closed at $143.08.

Analysts Set New Price Targets

AWI has been the topic of a number of research analyst reports. Loop Capital increased their target price on Armstrong World Industries from $135.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of Armstrong World Industries from $121.00 to $122.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Evercore ISI upped their target price on Armstrong World Industries from $127.00 to $140.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Truist Financial raised their price target on Armstrong World Industries from $148.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, UBS Group increased their target price on Armstrong World Industries from $136.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $140.83.

Armstrong World Industries Stock Performance

The company has a fifty day moving average price of $133.30 and a two-hundred day moving average price of $123.45. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 27.09, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.11.

Armstrong World Industries (NYSE:AWI) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.75 by $0.06. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The firm had revenue of $386.60 million for the quarter, compared to analysts’ expectations of $386.69 million. During the same period in the previous year, the business earned $1.60 earnings per share. Armstrong World Industries’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, equities research analysts expect that Armstrong World Industries, Inc. will post 6.19 EPS for the current year.

Armstrong World Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.308 per share. The ex-dividend date is Thursday, November 7th. This is a positive change from Armstrong World Industries’s previous quarterly dividend of $0.28. This represents a $1.23 dividend on an annualized basis and a dividend yield of 0.80%. Armstrong World Industries’s payout ratio is 21.69%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Natixis Advisors LLC lifted its position in shares of Armstrong World Industries by 16.0% in the 3rd quarter. Natixis Advisors LLC now owns 492,113 shares of the construction company’s stock valued at $64,678,000 after acquiring an additional 67,798 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of Armstrong World Industries by 4.3% during the third quarter. OneDigital Investment Advisors LLC now owns 1,864 shares of the construction company’s stock valued at $245,000 after buying an additional 76 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Armstrong World Industries by 2.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 10,206 shares of the construction company’s stock valued at $1,341,000 after buying an additional 283 shares during the period. Victory Capital Management Inc. lifted its stake in Armstrong World Industries by 230.1% in the 3rd quarter. Victory Capital Management Inc. now owns 43,430 shares of the construction company’s stock worth $5,708,000 after acquiring an additional 30,273 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in Armstrong World Industries during the 3rd quarter worth about $775,000. 98.93% of the stock is owned by hedge funds and other institutional investors.

Armstrong World Industries Company Profile

Armstrong World Industries, Inc, together with its subsidiaries, engages in the design, manufacture, and sale of ceiling and wall solutions in the Americas. It operates through Mineral Fiber and Architectural Specialties segments. The company offers mineral fiber, fiberglass wool, metal, wood, felt, wood fiber, and glass-reinforced-gypsum; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings, walls, and facades for use in commercial settings; and manufactures ceiling suspension system (grid) products.